The Rural Development Act of 1972 creates the need for a more efficient economic modeling tool.
A Transformation Decades in the Making
For years after the formation of MIG, Inc., IMPLAN was developed for and used exclusively by the federal government. In 1988, IMPLAN was used for the very first time outside of a federal government agency. Then in 1991, MIG, Inc. took its first ever commercial order. Accompanied by a series of releases of new software versions and continually expanding collections of data fueling them, IMPLAN spent the next several years gaining more recognition, growing in scope, and most importantly…becoming more accurate.
1999 was a big year for IMPLAN. After a multitude of updates and improvements to the software in order to make it more practical and more easily accessible to a wider range of users, MIG, Inc. released IMPLAN Pro Version 2.0. This innovative, landmark version of the software was the first to implement the now-standard social accounting matrix (SAM) and its subsequent SAM multipliers to organize data, recall information, and process calculations quickly and efficiently.
In 2004, IMPLAN incorporated trade flow information into the software’s operations for the first time. Offering insights into the multidirectional movements of goods and services between economies, regional trade flow data allowed for multi-regional input-output (MRIO) analysis with IMPLAN. The incorporation of commuting data shortly thereafter advanced MRIO capabilities even further. With the inclusion of those sophisticated insights into IMPLAN Version 3.0, it became one of the earliest ever commercial tools with the capacity to educate users on the importing and exporting behaviors of commodities between the economies of neighboring regions.
In 2013, MIG, Inc. officially changed its name to IMPLAN and relocated its headquarters to Huntersville, NC. Soon after, in mid-2015, IMPLAN released an online subscription-based version of its classic software called IMPLAN Online.